Design of annuity plan Annuity plan is the source, foundation, premise and basis of annuity operation, and it is very important to design an annuity plan that meets the characteristics of customers. However, the design of annuity plan has higher professional requirements. ICBC can provide comprehensive support for the design of annuity plan and annuity operation management mode, internal and external review and filing in response to different needs of various customers, thus helping them to successfully complete the filing of annuity plan and laying a solid foundation for the establishment of annuity plan.
Selection of annuity management institution Whether the selection of management institution is appropriate has a direct bearing on whether the annuity fund can achieve the desired management objectives on the premise of ensuring asset safety. One of the fiduciary’s important responsibilities is to select account managers, custodians and investment managers for corporate annuity clients, and to select custodians and investment managers for professional annuity agents. ICBC follows the principles of openness, fairness, impartiality and prudence. By relying on the scientific annuity fund manager evaluation system, it selects appropriate annuity management service institutions by use of a professional bidding evaluation committee. Besides, ICBC can also provide integrated services, such as consultation and follow-up evaluation of selected annuity management institutions, and replacement of relevant service institutions as requested by customers.
Filing of annuity management contracts The completion and filing of annuity fund management contracts and the acquisition of filing number from the human resources and social security administrative department mark the formal establishment of an annuity plan. The fiduciary undertakes the filing of entrusteeship management contracts and entrusted management contracts. ICBC has extensive experience in annuity services and is familiar with the procedures and requirements for the filing of various annuity management contracts. Through reasonable work schedules, it can ensure the timeliness of filing of annuity management contracts. At the same time, ICBC can also provide customers with integrated services during the filing of management contracts, including consultation on management institution memorandum.
Formulation of strategic asset allocation strategy The goal of annuity fund operation and management is to maintain and raise the value of fund assets. Investment management is the driving force for the operation of annuity fund, while formulating investment policies and allocating strategic assets are the starting point for and the most important part of investment management activities. Based on the individualized needs of clients, ICBC can formulate strategic asset allocation strategies, design an annuity fund investment portfolio and select suitable annuity fund investment products, to realize the long-term value maintenance and appreciation objective of annuity fund.
Supervision on annuity fund operation During the stage of annuity fund operation, the fiduciary’s supervision over other managers is an important guarantee for the safe operations, value maintenance and value appreciation of fund. ICBC has established a sound supervision and management system, which can be used to supervise and evaluate the work of various managers, provide assessment reports, urge managers to constantly improve the management of annuity fund, and ensure that annuity fund management is compliant, safe and efficient.
Handling of daily fiduciary affairs The annuity operation and management involves several management roles and operational links. ICBC gives full play to the core role of fiduciary in the entire operation process and the pivotal role of information transmission, to ensure safe and effective operations, coordinate the roles and track the links in a timely manner. In this way, the smooth operation of annuity fund and the safety of annuity fund assets will be guaranteed, thus realizing the value maintenance and appreciation of annuity fund and protecting the interests of the beneficiaries.
Disclosure of annuity management information According to the principles of adequacy, effectiveness, timeliness and openness, ICBC has established a system for reporting and disclosure of accounting information to trustees, agents, beneficiaries and regulators, so that such duties as receiving inquiries, regular reports and timely reporting of major events can be fulfilled.
Annuity management consulting services In the process of planning the establishment of annuity system as well as daily operations and management of customers, ICBC can provide comprehensive consulting services, including but not limited to relevant policies and regulations, annuity plan design, operation management mode design, management institution evaluation and selection, investment strategy advice, information and so on.